NEWS RELEASE
March 20, 2002
FLEXIBLE SOLUTIONS INTERNATIONAL INC.
Corporate Headquarters
2614 Queenswood Dr.
Victoria BC V8N 1X5
E-mail: info@flexiblesolutions.com
| NASDAQ – OTC:BB – “FXSO” | FRANKFURT “FXT” |
Ondeo Nalco and Flexible Solutions Sign Letter of Intent For Manufacture of Water$avr
Flexible Solutions announced that Ondeo Nalco, a subsidiary of SUEZ, has signed a Letter of Intent to provide global manufacturing capacity for Flexible Solutions’ Water$avr product.
Water$avr is an evaporative control powder that is self-spreading over the surface of reservoirs, canals and rivers. By retaining available water, WaterSavr provides more water at an applied cost as low as $.04 (.05 Euro) per cubic meter.
Patrick Grant, President of the Flexible Solutions’ Water$avr Division, states, “In partnering with Ondeo Nalco on this project, we have found a company that can meet the quality manufacturing standards required for a NSF product. Additionally, they have access to regional capacities in various areas of the world, and total annual capability to manufacture up to 400 million pounds of Water$avr.”
It is the intention of both companies to move quickly from the Letter of Intent toward a full manufacturing contract.
“Ondeo Nalco is a global leader in finding solutions in the international water market. Because Water$avr provides a unique solution to managing evaporation loss, we anticipate that both companies will be able to leverage their strengths in creating a successful partnership” said Dan Harker, Vice President of Supply Chain and e-Commerce for Ondeo Nalco.
The companies have also initiated licensing negotiations for Water$avr.
Ondeo Nalco, a subsidiary of Ondeo, the water division of SUEZ (NYSE: SZE), is the worldwide leader in water treatment and process chemicals with 10,000 employees working with more than 60,000 customers in 120 countries and annual revenues of $2.8 billion.
Ondeo is the premier water-related solutions provider with a presence in 130 countries supplying 115 million people with water and wastewater services, and has built more than 10,000 water treatment plants worldwide.
Flexible Solutions (NASDAQ – OTC:BB – “FXSO”; FRANKFURT “FXT”) is an environmental biotechnology company engaged in the development and sale of energy and water conservation products.
For more information please contact :
| David Katzov or Grant Moonie | In Vancouver: Steve McGuire | In Europe: Holtermann & Team |
| Corporate Communications | (604) 605 6037 | 49-69-219313-0 |
| Flexible Solutions Intl. Ltd | ||
| (250) 477 9821 |
The Private Securities Litigation Reform Act of 1995 provides a “Safe Harbour” for forward looking statements. Certain of the statements contained herein which are not historical facts are forward looking statements with respect to events, the occurrence of which involve risks and uncertainties. These forward looking statements may be impacted, either positively or negatively, by various factors. Information concerning potential factors that could affect the company is detailed from time to time in the company’s reports filed with the Securities and Exchange Commision.